Kidnap and Ransom

The threat of kidnapping and extortion has dramatically increased, not only abroad, but also at home. Whether it is companies with employees traveling, a family on vacation, or even a domestic threat, it seems these emotional, financial and devastating threats of extortion and detention are all too real.

Burns & Wilcox, a leader in specialty insurance, can provide access to Kidnap and Ransom (K&R) insurance to address the concerns of organizations whose professionals or families are at high risk. Our coverage options can be customized for your clients’ specific needs and are unrestricted worldwide.

Coverage Details and Features

Details

Limits up to $5 million

Includes reimbursement for money paid for extortion or ransom

Includes money for rewards provided for information leading to arrest or conviction of perpetrators

Includes medical, cosmetic, psychiatric, or dental expenses following insureds release

Includes expenses related to rest and rehabilitation

Includes coverage for accidental death or dismemberment

Includes coverage for financial loss pertaining to kidnapped employee’s finances

Coverage Highlights

Coverage can be secured on a short‐term basis for individual trips or for an entire organization, including relative and guests or insured persons

Most submissions are quoted within 24 hours

Indications available based on preliminary underwriting data

Ability to offer tailored policies for a variety of risks, including but not limited to: religious institutions, educational facilities, financial institutions, hospitals, and mining corporations

No minimum premium requirements

No deductibles required

Immediate access to the crisis response firm’s consulting services across a variety of topics relating to security and executive protection.

Ask an Expert

What does a kidnap and ransom policy cover?

Kidnap and ransom policies protect against financial losses that arise when an insured is threatened internationally or domestically. Cases can range from traditional kidnap-for-ransom or hostage situations to ship and aircraft hijacks, political detentions or threats aimed at an employee in the workplace.

So kidnap and ransom coverage includes domestic and international risks?

Correct. A kidnap and ransom policy will cover international and domestic threats similarly. For example, a female employee felt unsafe in her Michigan-based workplace because her ex-husband made threats to her. The Michigan company had a kidnap and ransom policy that paid for an in-office security team to protect the woman’s entire workplace from her ex-husband, ensuring her and her co-workers safety should an incident occur. Kidnap and ransom policies can be an important part of risk management for smaller companies too. During the recession, we saw an increase in bank robberies. A kidnap and ransom policy provides protection in a hostage situation.

Who usually requests or purchases kidnap and ransom coverage?

Kidnap and ransom policies are purchased by a variety of individuals and organizations, including high net-worth individuals, hospitals and global organizations. For example, a hospital’s policy would provide coverage when a child is abducted by a parent that doesn’t have custody.

At Burns & Wilcox our expertise becomes your expertise. Our marketing materials are designed to help you give your clients what they want to hear – yes to almost any hard-to-place-risk.